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Earthstone Energy (ESTE) closed at $11.94 in the latest trading session, marking a +0.25% move from the prior day. This move outpaced the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Coming into today, shares of the oil and gas company had lost 42.91% in the past month. In that same time, the Oils-Energy sector lost 19.33%, while the S&P 500 lost 5.08%.
Wall Street will be looking for positivity from Earthstone Energy as it approaches its next earnings report date. On that day, Earthstone Energy is projected to report earnings of $1.06 per share, which would represent year-over-year growth of 307.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $326.77 million, up 264.41% from the year-ago period.
ESTE's full-year Zacks Consensus Estimates are calling for earnings of $4.61 per share and revenue of $1.3 billion. These results would represent year-over-year changes of +268.8% and +209.38%, respectively.
Any recent changes to analyst estimates for Earthstone Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.95% higher within the past month. Earthstone Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Earthstone Energy's current valuation metrics, including its Forward P/E ratio of 2.58. This represents a discount compared to its industry's average Forward P/E of 4.18.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Earthstone Energy, Inc. (ESTE) : Free Stock Analysis Report
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